Table 2.
2SLS estimation
| Instrumental variables | Model 1 | Model 2 |
|---|---|---|
| (Log)Rent |
0.07 (0.46) |
– |
| No rent | – |
− 0.52 (0.56) |
| Break clause | – |
1.03*** (0.02) |
| Monthly payment |
− 0.81* (0.30) |
– |
| Individual tenant |
− 0.48*** (0.03) |
− 0.72*** (0.07) |
| Notice period |
0.83* (0.21) |
– |
| No concession |
3.98*** (0.6) |
– |
| Constant |
0.08 (0.54) |
4.82*** (0.08) |
| Diagnostics |
Wald chi2 (5) = 26.09 Prob > chi2 = 0.001 Durbin–Wu–Hausman test of endogeneity = 17.94 (p = 0.0030) 3.59 (p = 0.0030) |
Wald chi2 (3) = 32.21 Prob > chi2 = 0.0000 Durbin–Wu–Hausman test of endogeneity = 24.87 (p = 0.0000) 2.78 (p = 0.0000) |
Dependent Variable: (Log)Contract Duration
Instruments: logarea tillage forestry Galway*size Kilkenny*size Mayo*size Roscommon*size Waterford*size Wexford*size year_2013 year_2015 year_2016 year_2017 year_2018 year_2019
***0.1% statistical significance; *0.05% statistical significance. Standard errors in parentheses